Mitsubishi UFJ Ordered to Improve Business Practices

Mitsubishi UFJ (MUFG) has released an update.

Mitsubishi UFJ Financial Group, along with its subsidiaries MUFG Bank and Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. (MUMSS), has received business improvement orders from Japan’s Financial Services Agency (FSA) due to violations including improper sharing of customer information. The group has publicly apologized and is committed to reinforcing their legal compliance frameworks to prevent future occurrences. They will soon announce detailed business improvement plans and report submissions in response to the FSA’s orders.

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